As Gen Z starts to dominate the consumer landscape, will celebrity endorsers lose their status? Quizzing my Gen Z college students about brands they’re loyal to and brand influencers, I find that they’re more focused on social media and peers than they are on advertising and celebrity endorsers.
Nike just did it. The shoe giant is trending on Twitter in a big way for its #JustDoIt campaign, but not just because @Nike retweeted Colin Kaepernick. It’s the content of that tweet and what it represents — Nike is taking a stand on protests against injustice that Kaepernick led while he was in the NFL. No longer employed by the NFL, Kaepernick is still the face of those protests — which may begin again as football resumes this week.
When I saw that the 2008 rate for a speech by Larry Summers was $45,000 to $135,000, I got to thinking.
Out of curiosity, I started prowling the various Web sites of speakers' bureaus and came to six conclusions:
- It seems everybody in the world is available for speeches. Included are political and show business stars, second and third bananas, and hundreds upon hundreds of people I never heard of.
- All of these people—luminaries and nobodies—get fees from $1,000 to $1 million, plus expenses.
- I used to make a lot of speeches, and all I ever got was expenses and a plaque with my name engraved on it.
- I was a damned fool. I was as much a nobody as anybody else and could've picked up some dough if I'd just asked.
- If someone invites you to make a speech, think about asking for an honorarium at the very least, if not a fat fee, plus expenses. For Colin Powell, expenses include a private jet along with his $100,000 fee.
- The worst that can happen is that no money in the budget exists for fees or expenses. If you refuse, someone will replace you.